Open Country Dairy says no impact from coronavirus yet

Mon, 03 Feb 2020

Open Country Dairy, New Zealand's second-largest milk processor, saw its full year net profit lift 34 percent on increased volumes and said a short-term negative impact from the coronavirus is likely. Profit was $31.42 million in the year ended Sept. 30 from $23.48 million a year earlier, its accounts show. Sales lifted 18 percent to $1.4 billion while the cost of sales were up 17 percent to 1.3 billion.There was “increased volume so there was a natural increase in the bottom line and an exemplary outcome in terms of efficiency...

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